Hey y'all. Ending a day in the market where there was a little bit of a slide....BIEL suffered from a little bit of profit taking like everything else. I stayed put.....primarily because my day job does not give me enough time to watch and analyze.
If you are starting an account (and you can with as little as $50.00), you can buy into something at the right time (when there is a dip in the price) and ride it for normally a few days until it goes up again. Sometimes greed (the idea that you will wait until it goes up more) will cost you because others will pull the trigger and take thier profits, causing the stock to come back down. For example, I bought Angiotech Pharmaceuticals at .33 one morning and watched it go up to .75 by noon! I didn't sell and it closed that day back in the thirties. You gotta know when to pull the trigger. I have learned that any profit is a good profit. You can sell minus the very small fee that an online brokerage charges. Then, you can wait and buy on the dip again. Get really good at this and repeat, repeat, repeat.....you're off to amassing your fortune.
I have found that on average, you can buy a stock on a dip and hold it for a few days......maybe a week or two...and you will catch the wave. This is certainly after watching one that has established this particular pattern (and most of them do).
Bioelectronics is a great example. For a few weeks, the stock slid all the way down into the fives......and a couple of days later it climbs over a dime. This is when you can take whatever amount of money you have and double it in a week. No financial institution out there can do that for you....but with a little homework..........you can do it for yourself!!
In closing I would just like to thank all of the veterans who have fought to preserve our great nation that enables us to have the kind of opportunities we have. God Bless!
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